‘Smart Money’ Stays on the Sides
October 14th, 2008 Posted in Mitt Romney, wall street
http://online.wsj.com/article/SB122394318763531045.html
By SUSAN PULLIAM
Some hedge-fund titans have yanked most of their money out of the stock market, a bearish sign amid Monday’s euphoria and an indication of how the hedge-fund business is changing amid chaos.
In recent days, Steven Cohen, the hedge-fund manager who runs the $14 billion SAC Capital Advisors, moved about half his funds, or about $7 billion, into money-market and other short-term securities, eliminating much of his fund’s exposure to the stock market, says a person close to the fund. Mr. Cohen plans on sitting on the sidelines for the rest of the year — trading a small portfolio himself …
October 14th, 2008 at 8:12 am
Homeownership rates:
2001: 67.5
2002: 67.8
2003: 68
2004: 68.6
2005: 69.1
2006: 68.5
2007: 68.4
2008: 67.8
The trend appears to be softening . . . are we heading towards an area before sub primes were in place?
October 14th, 2008 at 11:09 am
http://www.iht.com/articles/2008/10/13/business/nationalize.php
Hoover, FDR …
October 14th, 2008 at 11:37 am
Just testing… My comments won’t post.
October 14th, 2008 at 12:16 pm
Weary of Obama/McCain dog-breath dialogue?
Time for a presidential flea-dip?
Throw a bone for your “top dog”
at our
“BIG DOGS” BLOG!
Tomorrow, Wednesday, October 15, 2008
8:00 PM ET
(Presidential debate begins @ 9:00 PM ET)
Ruff! Ruff!
October 14th, 2008 at 1:16 pm
Christopher Buckley resigns from National Review . . .
http://www.thedailybeast.com/blogs-and-stories/2008-10-14/sorry-dad-i-was-fired
“So, I have been effectively fatwahed (is that how you spell it?) by the conservative movement, and the magazine that my father founded must now distance itself from me. But then, conservatives have always had a bit of trouble with the concept of diversity. The GOP likes to say it’s a big-tent. Looks more like a yurt to me.
While I regret this development, I am not in mourning, for I no longer have any clear idea what, exactly, the modern conservative movement stands for. Eight years of “conservative” government has brought us a doubled national debt, ruinous expansion of entitlement programs, bridges to nowhere, poster boy Jack Abramoff and an ill-premised, ill-waged war conducted by politicians of breathtaking arrogance. As a sideshow, it brought us a truly obscene attempt at federal intervention in the Terry Schiavo case.
So, to paraphrase a real conservative, Ronald Reagan: I haven’t left the Republican Party. It left me.
Thanks, anyway, for the memories, and here’s to happier days and with any luck, a bit less fresh hell.”
October 14th, 2008 at 4:08 pm
Stephen,
Was his resignation in response to pressure brought to bear because he endorsed Obama?
October 14th, 2008 at 4:35 pm
I think Buckley had enough, for a while at least, of the lack of serious discussion at NRO and the advancing of the McCain / Palin ticket. He is a humorist and well known for his satire and maybe thinks that the writing is on the wall for this election so what is wrong with having some fun and stirring things up. (He has a new book out) - Chris Buckley didn’t vote for Bush 43 in 04 and wrote in Bush 41. The party line only goes so far . . .
My guess is that like many other people the McCain / Palin ticket doesn’t cut it during these times and there isn’t the inclination to hold their nose and pull the lever for McCain. Buckley reasons that Obama is a very smart man, who will adjust once in office. If he doesn’t, Buckley adds, Obama will be a disaster that will be over in 4 years.
It is also of interest to note that the Buckley’s were never fans of Bush 43 after his first term in office and I recall WFB not being terribly supportive of 43 in 2000. His view of Bush was that he wasn’t a conservative and would diminish the efforts of the preceding decades of championing and advancing conservatism to the national stage. Compassionate conservatism was viewed as a setback.
In many areas, WFB proved to be correct in his analysis. Both the Father and his son, Chris, were avid supporters of 41.
There are, a vast, array of ideas within conservatism and Buckley, Frum, Hitchens, Parker, Brooks and others who do not believe in the McCain / Palin ticket. Hence, large numbers of them appreciating and supporting either Romney or Rudy for various social, economic or national defense reasons.
I think Palin, for Buckley and others, was the coup de grâce that had many of the conservative bright lights scratching their heads and heading for the exits.
October 14th, 2008 at 6:25 pm
Fantastic post Stephen!!!
I am about to say some things that quite possibly most people will disagree with in regards to the GOP. However, I feel that it has to be said.
I am concerned with the direction of our party and the ideals that we represent. I am a 25 year old black man from MA that has only recently in the last few years become a political junkie and avid conservative. In the last few months I have seen our party deteriorate to
October 14th, 2008 at 6:49 pm
Fantastic post Stephen!!!
I am about to say some things that quite possibly most people will disagree with in regards to the GOP. However, I feel that it has to be said.
I am concerned with the direction of our party and the ideals that we represent. I am a 25 year old black man from MA that has only recently in the last few years become a political junkie and avid conservative. In the last few months I have seen our party deteriorate to the point of non-recognition.
When did the party of intellectualism and freedom devolve into a party of willful blindness? When did it become acceptable to attack someone’s faith since it different from our own? When did we decide to become populists instead of conservatives? When did the idea of someone becoming a successful business man become so appaling?
The fact that William Buckley son has endorsed Barack Obama is stunning. However, not as stunning as to the way he, Kathleen Parker, and a host of others are poorly treated when they decide not to drink the GOP kool aide. When did we decide to eat our own when we disagree with someone? Denouncing Buckley, Frum, Parker as liberals or worse is disgusting and not the party that our founders formed.
When did it become acceptable for a woman like Sarah Palin, who is running for the second highest office in the land to be treated like the second coming? There is nothing she says or does that is wrong. There is nothing she cannot do. Even though she probably needs on the job training like Obama does…it doesn’t matter. She’s Sarah Palin. Even though the woman has absolutely zero intellectual curiosity…it doesn’t matter. She’s Sarah Palin. Even though she was touched up by an ethics scandal…it doesn’t matter. She’s Sarah Palin.
Tomorrow night if McCain brings up Ayers at the debate tomorrow the race will be over; he will appear to be feeding the “angry mob” at his rallies that the news channels speak about on a daily basis. Since it now acceptable to attack a persons character in the GOP instead of focusing on the issues. Calling someone a “terrorist” and “arab” is going to swing alot of independents and blue dog democrats… I’m sure.
I don’t agree with Chris Buckeley and will not endorse Obama, but I will kindly disagree with him and not act like the other kool aide drinkers on the other blogs and become completely hatelful. This election has reached the point of damaging our party brand in ways that I never imagined. I feel it may get to the point that after this election it will place us in the “wilderness” for decades to come. We will be known as the angry populist party that tried to bring down the “Great Hope”. That is not the legacy I want us to leave behind. Let’s fight on the issues. Let’s take apart their arguments and policies. Let’s stand on conservative principles and not hate. We can never win one hate alone.
Romney/Jindal 2012
The smartest men in ANY room.
October 14th, 2008 at 9:38 pm
SED: Your post made me very very sad…. because it is largely true…. tragic, and true…
God Bless America… soon!
October 14th, 2008 at 10:57 pm
SED, first of all, I agree completely. Luckily McCain is the Maverik and might just be a little disasociated with the Republican party, doubtful but here’s hoping. I still will vote for him, not because I think he’s great, or that Sarah Palin is so wonderful, but, it makes the liberals so entirely angry to see her, and writing in Romney is just as an emotional response as voting to make people mad.
Second, did you volunteer in 2006 for the GOTV?
October 15th, 2008 at 5:41 am
SED,
thanks for your post. Excellent. I can’t pull that trigger for McCain Palin. I find that I would much rather suffer through four years, than to have our party damaged totally beyond repair. I am not voting ’scared’. I don’t believe the crap that Obama has terrorist ties, or is an ‘arab’. Like that would really matter. I have German blood. Does that make me someone with SS or Hitler ties?
I have children of all races in my home. The GOP is now telling me that my black children can never be president. My hispanic kids can never be president and my LDS kids, of which they all are, can never be president. Is that fair? Why only the white kids of a certain christian bent can grow up to be president?
Palin was the last straw for me. Not that she wasent Mitt, but because she’s inexperienced, and was picked after the letter from the so-called evangalical leaders threatening to bolt if Mitt was picked. They ‘reccommended’ a few alternatives to mitt, and Palin was one of them. I feel that if the Maverick bent so quickly and so far to accomodate these bigots, then he’ll pretty much bend in any direction to be President. I also have very little admiration for Palin and her family. I’m told that her family is ‘just like mine’, when it’s not. We’re told that if we ‘let Palin be Palin’ things would be different in this election. Huh? You mean she’s not Palin? So, who exactly is she then? When turned lose without her leash, her bigot side comes out, and she fans the fires of trying to tie Obama to terrorism, etc. The problem is Palin IS Palin. The Panderpick of the decade.
It won’t be pleasant for the 4 out. But like root canal, it will be worth it. It will also teach my children that ANYONE can grow up to be president - even a Black Mormon Girl or Boy!
Thanks SED. We’ll wander together!
October 15th, 2008 at 6:03 am
Wow - seems there is a lot going on with Palin:
http://elections.foxnews.com/2008/10/14/records-palin-skirted-state-ethics-rules/
October 15th, 2008 at 7:53 am
Time for Palin to answer questions:
http://www.cnn.com/2008/POLITICS/10/14/martin.campaign/index.html
October 15th, 2008 at 8:02 am
Doug
Why? She’s the perfect storm.. umm I mean, Candidate.
October 15th, 2008 at 8:13 am
CBS Poll said 22% of the people polled say their views of McCain have darkened since his pick of Palin.
I wonder if McCain thinks “Gee, I should have picked Romney.”
October 15th, 2008 at 8:36 am
Thank You everyone for the response to my comments. It’s good to hear that my sentiments may not completely be out of the mainstream here.
Doug and Tracey your posts only highlight one of the MANY big problems for the McCain campaign. Kathleen Parker was right and Sarah Palin is a liability. Palin will never be President of the United States.
Don’t get me wrong I like Sarah Palin on a personal level. However, the majority of Americans do not. Her accent, her bravado, lack of intellectual curiosity reminds most people of George W. Bush in drag with only better executive experience and a populist edge.
Now she has the whispers of cronyism and ethics scandals placing a cloud on her credibility. Regardless of it being true or not the dialogue has been set and will forever change peoples perception of her as a whole. An example being the Valerie Plame scandal that even to this day; the lies are being called fact.
I just read at Politico how Palin is pushing McCain to attack Obama on the Wright issue. This would be a huge mistake. Attacking on Wright or Ayers for that matter does not create jobs. It doesn’t provide solutions to an ailing economy. All it does is enhance the MSM and the Obama campaigns narrative that McCain I an angry old man that is leading an angry mob to run Obama out of town.
October 15th, 2008 at 8:46 am
I think the Acorn scandal could help the McCain ticket but I think Wright is old news.
I think Palin is a liability and my extended family thinks she is not qualified to be President. They believe McCain is old, with a history of cancer and they feel they must look seriously at Palin and they have been left feeling insecure with McCain’s choice for VP.
October 15th, 2008 at 8:57 am
Tracey you are absolutely right.
If you want to attack Obama dscuss ACORN, talk about Fannie and Freddie, Talk about how the people who got us here in the first place will now control everything. Talk about the financial kickbacks. These things matter in regards to the economy. Not Ayers or Wright.
October 15th, 2008 at 9:40 am
Another interesting take on competing views within the conservative sphere.
http://rossdouthat.theatlantic.com/archives/2008/10/a_seat_at_the_table.php
“Now of course similar incentives are also at work for people who make their living writing and talking to a more partisan audience: If you run, say, a right-wing talk radio show, or work for an explicitly conservative magazine, stoking partisan fervor is almost always in your professional interest - and if you’re going to accuse David Brooks of pandering to his liberal audience, what would you say about a Levin or a Limbaugh? But I want to make a different point. Suppose that you accept the most cynical account of, say, Peggy Noonan’s uncertainty about whom to vote for in this election, or Christopher Buckley’s Obama endorsement - that they’re just craven, self-interested bandwagon jumpers who want to keep getting invited to all those swanky cocktail parties I keep hearing about. Suppose that you regard every right-of-center writer - or single-issue fellow traveler with the Bush Republicans, in the case of Christopher Hitchens - who’s publicly hurled brickbats at the McCain campaign as a quisling and a coward, a stooge for liberalism and a rat fleeing a fast-sinking ship. In such circumstances, what’s the best course of action - denouncing the rats, or trying to figure out why the hell the ship is sinking? Even if Brooks and Noonan and Buckley and Dreher and Kathleen Parker and David Frum and Heather Mac Donald and Bruce Bartlett and George Will and on and on - note the ideological diversity in the ranks of conservatives who aren’t Helping The Team these days - are all just snobs and careerists who quit or cavil or cover their asses when the going gets tough and their “seat at the table” is threatened, an American conservative movement that consists entirely of those pundits with the rock-hard testicular fortitude required to never take sides against the family seems like a pretty small tent at this point. And if I were Hanson or Levin or Steyn I’d be devoting a little less time to ritual denunciations of heretics and RINOs, and at least a little more time to figuring out how to build the sort of ship that will make the rats of the DC/NY corridor want to scramble back on board, however much it makes you sick to have them back. Who knows? It might just be the sort of ship that swing-state voters will want to climb on board as well.”